Gold Prices in India
As the world’s top investment manager, I bring you the latest update on gold prices in India. According to data compiled by FXStreet, the price for Gold remained broadly unchanged on Tuesday.
Current Prices
- Gold price per gram: 7,132.78 Indian Rupees (INR)
- Gold price per tola: 83,195.30 INR
| Unit measure | Gold Price in INR |
|---|---|
| 1 Gram | 7,132.78 |
| 10 Grams | 71,327.77 |
| Tola | 83,195.30 |
| Troy Ounce | 221,854.30 |
Please note that FXStreet calculates Gold prices in India by adapting international prices to the local currency and measurement units. Prices are updated daily based on market rates.
Gold FAQs
As a financial journalist, I present to you some frequently asked questions about Gold:
Role of Gold
Gold has been historically used as a store of value and medium of exchange. It is considered a safe-haven asset, a hedge against inflation, and depreciating currencies.
Central Banks and Gold
Central banks are major Gold holders, using Gold reserves to support currencies and improve economic strength. In 2022, central banks added a record amount of Gold to their reserves.
Correlation with US Dollar
Gold has an inverse correlation with the US Dollar and US Treasuries. When the Dollar depreciates, Gold tends to rise, making it a diversification asset in turbulent times.
Factors Influencing Gold Prices
Geopolitical instability, economic recessions, interest rates, and the behavior of the US Dollar all impact Gold prices. It is essential to monitor these factors for insights into Gold price movements.
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Analysis
Understanding Gold prices is crucial for investors and individuals alike. Here’s a breakdown of why this information matters:
- Investment Diversification: Gold serves as a hedge against economic uncertainties and market volatility. Knowing the current prices can help investors make informed decisions on diversifying their portfolios.
- Economic Stability: Central banks’ Gold reserves impact currency strength and economic stability. Tracking Gold prices provides insights into the global economic landscape.
- Market Trends: The correlation between Gold prices and key assets like the US Dollar offers valuable insights into market trends and investor sentiments.
- Financial Planning: Understanding the factors influencing Gold prices can aid individuals in making sound financial decisions and protecting their wealth.
By staying informed about Gold prices and its implications, both investors and individuals can navigate the financial landscape more effectively and secure their financial futures.